Fiat Partners with Virtuo on Adding New Leasing Offer

Fiat Partners with Virtuo on Adding New Leasing Offer

FACTS

  • The car industry group FCA officially teams up with innovative car rental specialist, Virtuo.
  • The FrenchTech Virtuo manages a fleet of upmarket connected vehicles, accessible 24/7 via a mobile app. They feature short rental periods ranging from 1 to 28 days. Virtuo can count on 30 stations in train stations, airports and city centres.
  • Until recently, Virtuo’s service was only based on a partnership with Mercedes. They are now adding Fiat vehicles to their set of offers. FCA group provides them with a fleet of Virtuo 150 Fiat 500X vehicles.
  • These cars will be available in 7 towns in France, and accessible using the Virtuo app; 11 towns will later on be covered.
  • Prices start at €29/day.

CHALLENGES

  • Attracting younger customers. Fiat teams up with Virtuo to attract younger, more connected customer segments: a slight strategic shift intended to increase their offer’s popularity.
  • For Virtuo, this partnership with Fiat is a means to diversify their fleet through aiming for more , including less high-end segments.
  • Boosting mobility-oriented services. Fiat bets on this agreement to test new models and enhance their skills in mobility-focussed services.

MARKET PERSPECTIVE

  • Just like several other car manufacturers, FCA seeks to reshape their business model, reaching out for additional industries including retail, leasing sector, electric mobility (with engie) or in-car services (Uconnect Market platform).
  • With Virtuo, this group further seeks to renew their model while avoiding the risks inherent to crafting new service in their own name.

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